WHAT ASX AUSTRALIAN GOLD COMPANY IS A UNICORN?

Little-known Cannindah Resources (ASX:CAE) are beavering away without fanfare. Goldman knows one of its directors very well. Dr. Simon Beams, a geologist, is a supreme geological leader among his peers. I noticed he is a director of Cannindah Resources, operating not far from Simon Beams’ headquarters in Townsville. Goldman also noticed that Simon has just purchased and announced $1,000,000 worth of shares in Cannindah. To me, this sends volumes of confidence.

I had a bit of a read of where they are at the moment, and with limited drilling, they already have 197,000 ounces of gold. Recently, drilling intersected 104 meters @ 1.46 g/t Au within an aggregate grade of 1.01 g/t Au over 275 ingenious metres, including an aggregate grade of 67 meters @ 1.96 g/t Au.

Significant gold intersections include:

• 104m @ 1.46 g/t Au, including:

– 20m @ 5.5 g/t Au (aggregate interval of 275m @ 1.1 g/t Au from hole 18)

• 67m @ 1.96 g/t Au (195m-262m), including:

– 41m @ 3.07 g/t Au, 0.34% Cu, 14.4 g/t Ag (2.32% CuEq)

• 18m @ 6.34 g/t Au, 0.18% Cu, 17.2 g/t Ag (4.18% CuEq)

• 3m @ 28.87 g/t Au (see ASX release 21 Feb 2022)

• 24m @ 2.11 g/t Au, from surface (see ASX release 30 Sep 2022)

• 17m @ 1.09 g/t Au, including 1m @ 8.18 g/t Au (see ASX release 21 Feb 2022)

• 14m @ 1.65 g/t Au (see ASX release 4 Apr 2022)

• 23m @ 1.8 g/t Au, including 6m @ 2.7 g/t Au (see ASX release 15 Aug 2022)

Very high grade gold section of semi-massive sulphide infill alongside contact of unusual argillised dyke cutting breccia

**Hole 18: 1m @ 96.2g/t Au ,1.46% Cu, 123 g/t Ag, 14.8% S, elevated Bi, Pb, Sb.**

Downhole contact of argillised dyke with adjacent contact of semi-massive sulphide infill

**Hole 18: 1m @ 10.8 g/t Au ,0.88% Cu,40 g/t Ag, 6.5% S**

Under normal circumstances, with a well-oiled publicity machine, this stock would be heading to the moon. Goldman has made some inquiries and conducted an undercover investigation in the town of Charters Towers to find that one of South America’s largest copper/gold companies made a flying visit to Cannindah. I think there is a bit of a “watch and see” on this hidden gem.

Goldman is not recommending readers buy stock; we are merely pointing out reality.